Solana brush
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in Posted on, Tensor Foundation teased the issuance of TNSR tokens, although it did not provide many details. “Today, NFTs are a niche community on the fringes of the web. Tomorrow, NFTs will power products, businesses, and entire industries. NFT traders will grow from thousands to billions,” the organization said Tuesday.
Tensor also revealed that Solana NFTs have a trading volume of nearly $2.2 billion. This represents over $2 billion in additional transactions, compared to the $7 million in NFT trading volume that Tensor said it oversaw as of last March. The marketplace launches in late 2022.
“To date, Tensor Protocol has traded $2 billion worth of Solana NFTs. Over the past 90 days, Tensor Protocol has facilitated over 70% of Solana NFT trading volume (excluding wash trading),” the Tensor Foundation also said in a post Tuesday.
Trading volume for Solana NFTs, which have always lagged far behind non-fungible tokens issued on Ethereum, has steadily increased since late last year. According to CryptoSlam, over $200 million in Solana NFTs were traded each month from December to February! data.
‘Blur of Solana’
Last March, Tensor, which branded itself “The Blur of Solana,” announced that it had raised $3 million in a seed funding round. Placeholder VCs led the round, which also included Solana Ventures and Solana co-founders Anatoly Yakovenko and Raj Gokal.
The idea behind Tensor naming itself “The Blur of Solana” was part of its strategy to position the market as a marketplace for professional traders of Solana NFTs.
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a variety of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.